In this 6 minute video, a scenario is presented to students who act as members of the FED and must make decisions related to monetary policy. A scenario is presented and then outcome impacts are discussed. This video will aid in the mastery of standard EPF. 4 and 7
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
In this chapter, you will learn about:
Macroeconomic Perspectives on Demand and Supply
Building a Model of Aggregate Demand and Aggregate Supply
Shifts in Aggregate Supply
Shifts in Aggregate Demand
How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
Keynes’ Law and Say’s Law in the AD/AS Model
By the end of this section, you will be able to:
Explain how imports influence aggregate demand
Identify ways in which business confidence and consumer confidence can affect aggregate demand
Explain how government policy can change aggregate demand
Evaluate why economists disagree on the topic of tax cuts